Department of Labor Reports on Average Hourly Earnings – January 2012
The U.S. Bureau of Labor Statistics reports that real average hourly earnings for all employees decreased by 0.3 percent between January 2012 and February 2012. The 0.1 percent uptick in average hourly earnings was offset by a 0.4 percent increase in the Consumer Price Index for All Urban Consumers (CPI-U). Over the same period, real average weekly earnings fell by 0.3 percent over the month as the length of the average work week remained unchanged. Average hourly earnings have fallen 1.2 since reaching a peak in October 2011. The combination of a 0.6 percent increase in the average work week and declines in average hourly earnings led to a 0.4 percent fall in average weekly earnings for the 12-month period between February 2011 and February 2012.
Production and non-supervisory employees declined by 0.3 percent over the month. A gain of 0.2 percent in average hourly earnings was offset by a half-percent rise in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Real average hourly earnings fell by 1.5 percent between February 2011 and February 2012. The decline, combined with a 0.6 percent increase in average weekly hours resulted in an overall 0.9 percent drop in real average weekly earnings
For all employees, real average hourly earnings fell from $10.31 in February 2011 to $10.20 in February 2012. Average weekly hours rose slightly from 34.3 hours to 34.5 hours, over the year. All employees experienced an increase in average weekly earnings rising from $784.78 in February 2011 to $804.20 in February 2012. Real average weekly earnings for the group, using the CPI-U for deflation, fell from $353.49 to $352.05, over the year. Average weekly hours increased from 34.3 hours to 34.5 hours, during the same period.
Post your resume to the largest network of recruiters on the planet. START